What Changed in the new Power of Attorney
- EFFECTIVE DATE ON NEW POWER JUNE 13, 2021
- SUBSTANCIAL COMFORMITY TO SECTION 5-1513 OF THE GOL
- THIRD PARTY MAY SIGN FOR PRICIPAL AT PRINCIPAL’ S DIRECTION
- STATUTORY GIFT RIDER ELIMINATED
- GIFT IN EXCESS OF $ 5,000.00 MAXIMUM ALLOWED IN SECTION (f)(l)
- OPTIONAL SECTOON NOT USED MAY BE OMITTED WITH WORDS “INTENTIONALLY OMITTED”
- SIGNATURE REQUIREMENT: POWER MUST BE ACKNOLWEDGED AND WITNESSED BY TWO PEOPLE
- EFFECTIVE ONLY IF SIGNED BY AGENT
- PRIOR POWER OF ATTORNEY IS GRANFATHERED.
KIDS GOING TO COLLEGE SHOULD GET A POWER OF ATTORNEY SIGNED.
Download new Power of Attorney Form here…